Yesterday, the House and Senate both passed outlines for the 2010 federal budget. Both propose about $3.5 trillion in spending and preserve many of the priorities of President Obama's budget, including more spending on federal student financial aid. A conference committee will hammer out the differences between the two packages and create a compromise budget.

On financial aid, the main point of contention continues to be the proposal to eliminate the bank-based Federal Family Education Loan Program and switch to federal Direct Loans for Stafford and PLUS loans. The language of the House budget outline paves the way for the elimination of FFELP by instructing the Committee on Education and Labor to find $1 billion in savings through the budget reconciliation process. The Senate bill does not include such a provision, and instead includes (largely symbolic) language promoting a student lending system built on competition and choice.

After an outline is agreed upon, then specific spending legislation will start to emerge, and the fate of FFELP, as well as the proposed expansions to Pell Grants and Perkins Loans, can be determined. So far, it appears that many of these changes, as well as healthcare and environmental reform, are on their way to becoming reality.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

Earlier this week, we blogged about the recession making getting into a PhD program more difficult for prospective graduate students. Prospective undergraduates are also facing a changing admissions landscape, but the picture for them is more complicated. Articles about colleges' admission conundrums have abounded this week as acceptance letters and financial aid notices make their way to anxious high school seniors.

Top schools with big endowments and generous financial aid packages, such as virtually the entire Ivy League, are facing increased applications and some of their lowest admission rates ever. Meanwhile, other private colleges are admitting more students than last year, and also putting more students on their waiting lists. Many state colleges and community colleges are also seeing increased interest and jumps in enrollment, and schools with limited resources are forced to turn away a larger percentage of applicants.

All of this adds up to a lot of uncertainty for students, and for colleges trying to create next year's freshman class. Many sources are saying it also means increased flexibility for some students in terms of negotiating admission or financial aid at their top choice schools.

Since schools are hurting financially and admissions offices are as nervous as students this year about their decisions, students who are able to pay full freight (either out-of-pocket or through a generous outside scholarship award) may face an advantage getting off the wait list, since several schools admit to considering ability to pay when deciding whether to admit waitlisted students. Students who have received an acceptance letter from their dream school, but have been offered larger amounts of institutional aid from other colleges may also have more options this year. Students in this boat may want to let their favorite private colleges know about their dilemma to see if they can get a slightly better offer. Many schools may be willing to drop a couple thousand extra dollars on you if it will secure your tuition payment.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

Earlier this week, the House of Representatives passed a "technical corrections" bill that would make several changes to the Higher Education Opportunity Act passed last year. Most of the changes are minor corrections, such as fixing typos or clarifying language, but the bill also includes two major fixes that would help borrowers if signed into law.

One of the corrections taken up in the bill was a move to postpone the controversial PLUS loan auction program by a year. Under the auction plan, lenders would bid to service PLUS loans in each state, a move that made much more sense when proposed in 2007 than when enacted in 2009. Bids for the auction were due this week, but so far it has generated little interest from most lenders and a statement from major lender Sallie Mae saying they had no plans to participate. Congress hasn't scrapped the plan entirely, but tabling it for a year will hopefully allow it to be revisited under more favorable, or at least different, conditions, and in the meantime will allow parents and graduate students to continue borrowing as normal.

The other much talked about provision would provide relief to people currently repaying their student loans who have defaulted in the past. The credit crunch has made it difficult for borrowers who are now making payments on time to move out of default and have their credit rehabbed and federal aid eligibility reinstated. Guarantee agencies have had trouble finding borrowers willing to buy up the rehabbed student loans and allow the default status to be removed from the borrowers' credit. A provision in the correction bill will allow the federal government to buy up rehabbed loans under the same authorization they're currently using to buy up other loans from student lenders.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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In a bad economy, many recent college grads and laid off workers decide to make the move to go back to school. A number of current undergraduate students are also hoping to delay entry into the working world until the economy improves. Many of these prospective students will apply to graduate programs, hoping to land financial aid like a fellowship or assistantship on their way to a master's or doctorate degree. However, many programs that traditionally come with stipends attached are cutting enrollment, as their cash-strapped institutions try to find ways to reduce their operating costs.

A recent piece in Inside Higher Ed explains that while terminal master's degrees and other programs in which students commonly pay full tuition are still admitting large numbers of students, and in some cases even increasing enrollment, programs that typically give out more money than they receive, such as doctoral programs, are reducing admissions due to reduced budgets. While some master's programs and professional degrees come with fellowships, assistantships, or scholarship awards, the bulk of graduate financial aid goes to PhD students. These students typically serve as teaching or research assistants, receiving free tuition and a stipend in exchange. With university-wide cost cutting measures and rapidly shrinking departmental budgets, many institutions simply can't afford to offer as many of these generous aid packages as they have in the past. And rather than admitting and not funding doctoral students, these schools are choosing to admit fewer students in order to maintain their funding commitments to current and future students.

If you applied this year and didn't get in, at least you can console yourself with the knowledge that it was a particularly bad year for PhD applications. Whether it's your first time through the process or your second, if you're thinking of applying next year, start your college search early and consider sending out extra applications, especially if you're hoping for university funding. Competition may be fierce, and if the schools you want to attend decide to admit fewer students, applying to more schools will boost your odds of being admitted and winning scholarships, fellowships, or assistantships. If you're seeking a degree that may or may not have funding attached, such as a master's degree or professional degree, be sure to look into outside aid, such as scholarships for graduate students.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

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Ever look around and think that there are just too many people? NPG, a national organization devoted to population issues, is encouraging students to explore issues of population growth through their annual scholarship essay contest, which is this week's Scholarship of the Week. High school seniors and current undergraduate students are asked to submit essays of 500-750 words addressing the issue of population growth within the United States. Students are asked to format their entries as letters to their hometown Congressional Representative calling for the creation of a U.S. Commission on Population Growth.

Prize: First prize: $2,000 Second prize: $1,000 Third prize: $500

Eligibility: Applicants must be current high school seniors or undergraduate students who will be enrolled in college next year. Students must be U.S. citizens or permanent residents attending a school within the United States.

Deadline: April 24, 2009

Required Material: Two copies of an original letter written in response to the essay prompt. The letter should be between 500 and 750 words, written in English, word-processed or typed double-spaced, and submitted through the mail. E-mailed or faxed essays will not be accepted. Essays must be received by NPG by April 24.

Further details about the application process can be found by conducting a free college scholarship search on Scholarships.com. Once the search is completed, students eligible for this scholarship award will find it in their search results.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

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Student loan default rates increased in 2008, according to a preliminary report released by the Department of Education. The numbers, which still aren't finalized, indicate an increase from 5.2 percent last year to 6.9 percent this year in the two-year default rate on federal student loans. The increase in default rates is likely due to continued economic difficulties facing new graduates.

The report also shows a difference in default rates between the Federal Family Educational Loan Program and the Federal Direct Loans Program, though FFELP advocates are arguing that the differences are largely due to different makeups of the schools participating in each program (For example, students at for-profit schools are more likely to default, and are also more likely to participate in FFELP). However, even among similar groups, FFELP still had a slightly higher default rate.

Typically, reports on default rates are released around September and don't compare FFELP and Direct Loans, but Congress had requested data earlier to aid with the federal budget decision-making process. This is only the latest bit of bad news for FFELP, which President Obama urged Congress to eliminate in the 2010 federal budget. The Congressional Budget Office has said that eliminating FFELP could save more money--$94 billion, double the previous estimate. Additionally, a report by two interest groups states that the proposed increases in Pell Grants, some of whose funding is tied to cutting FFELP, would increase the average grant award by $121 and would make 260,000 more students eligible for the program.

If you're a college student looking to minimize student loan debt and reduce your risk of default, it's still not too late to start your scholarship search and find free money you won't need to pay back.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

One much-discussed aspect of the college experience is gaining exposure to new people and perspectives. Another statement that commonly turns up in the college search process is that different schools serve different groups of students--hence the importance of finding a good fit for you. Many of the most recognizable and commonly referenced differences are based at least in part on the race, gender, socioeconomic status, or country of origin of a college's student population. A college's mission and ideological and cultural base also play an important role, and exposure to ideological and religious diversity can also be a major component of the college experience.

One student at Brown University recently turned his experiences with such ideological diversity into a book, entitled "The Unlikely Disciple: a Sinner's Semester at America's Holiest University." The author, Kevin Roose, decided to go on a "domestic study abroad" and enroll at Liberty University, a conservative Christian college, for a semester. What emerges is, at least according to early reviews, an interesting and balanced look at Liberty from an outsider's perspective, as well as an honest exploration of the author's reactions to his new environment.

If you're in the process of choosing a college, or you're just curious about how wide-ranging the student experience can be in America, this book sounds like an interesting read. Roose's story is also a reminder for current college students that you don't necessarily need to go to an exotic locale to be exposed to people with a cultural experience markedly different from your own. Though study abroad occasionally can sound like an expensive and protracted sightseeing trip, Roose's "domestic study abroad" is a reminder of the importance of seeing and experiencing a new culture and place and stepping outside one's own ideological bounds.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

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Are you getting ready to kick off the college search, but unsure where to begin? Today and tomorrow, prospective college students can participate in CollegeWeekLive, a free college prep event featuring college admissions and financial aid information from schools and experts across the country. The event takes place online at CollegeWeekLive.com and kicks off today at 10 AM EDT, with the first keynote address scheduled for 11 a.m.

Participants in CollegeWeekLive will be able to visit virtual information booths and speak with admissions officers from colleges of all sizes in every part of the United States, as well as several online and international schools. Current students from over 75 colleges will also be available to chat live and answer your questions about student life.

Admissions, testing and financial aid experts will also give live, streaming presentations throughout the day both days. Topics range from athletic scholarships to standardized test preparation. Speakers include Scholarships.com's Kevin Ladd, who will be sharing information and advice about finding and winning scholarships. Kevin will be speaking at 5 PM Eastern tomorrow, so take the opportunity to hear what one of our scholarship experts has to say!

If you're a current high school student thinking ahead to college, this is a great event to check out. Learn about colleges you may want to attend without spending hours in a car, and hear what people in the know have to say about paying for school. Students who register also have a shot at winning prizes.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

Student loans are becoming increasingly difficult for the average college student to obtain. However, it appears at least one group is able to borrow private loans with relative ease: 80-something hospice patients in Florida. A student loan scam recently uncovered in St. Petersburg, Florida involved two stolen identities and between $15,000 and $18,000 in loans.

An 80-year-old woman and an 83-year-old man had their identities used to take out private student loans from Sallie Mae. A news story in The St. Petersburg Times describes the fraud as "poorly executed," involving blatant and inconsistent forgeries, including a fake ID with nothing changed but the picture--not even the 80-year-old's birth date. Private student lenders have previously come under fire when student loan scams were revealed, as private loans are by far the easiest type of student loan to fraudulently receive.

While many student loan scams don't even involve the pursuit of a real college degree, this one appears to have been perpetrated by a nursing student who had previously cared for the two victims of identity theft. The woman accused of identity theft successfully completed coursework at Keiser Career College and received her Licensed Practical Nurse certification in the fall. Bail is currently set at $40,000--already more money than she would have owed had she taken out the loans herself.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

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Your part-time job can earn you more than a paycheck. Students who are currently employed by KFC, Taco Bell, Pizza Hut, A&W, Long John Silver's, or other Yum! restaurant brands, or who are dependents of Yum! employees can earn a scholarship award of up to $2,500 through this week's Scholarship of the Week.

The Yum! Andy Pearson Scholarship, named in honor of the company's founding chairman, is a scholarship designed to assist Yum! employees or their family members who are seeking a college education. Current high school, college, or graduate students with strong academic records, leadership experience, community involvement, work experience, or financial need may qualify for this scholarship.

$1,000 to students attending community colleges or vocational or technical schools

$1,500 bonus award to up to 10 students pursuing a degree in food service or hospitality

$2,500 to 40 Yum! Scholars of Excellence, past recipients who have maintained at least a 3.5 GPA

Eligibility:

All active U.S.-based associates with a minimum of 6 months of continuous employment with Yum! or its subsidiaries and an average of at least 15 hours worked per week over this 6 month period.

High school seniors, HS graduates, students who have earned their GED or students currently enrolled in full-time study at an accredited two- or four-year college, university, vocational-technical school or graduate school who have a minimum cumulative grade point average of 2.0 on a 4.0 scale.

Legal dependents of eligible Yum! associates, including spouses and unmarried children under the age of 19 (or under the age of 25 if the child is a full-time student).

Associates must remain employed by Yum! as of the date that the scholarship is paid.

Deadline: May 15, 2009

Required Material: Completed online application, including statement of educational goals and objectives, a summary of the applicant's work experience, current academic transcripts, the eligible Yum! associate's employment information, and the applicant's family's most recent tax information.

Further details about the application process can be found by conducting a free college scholarship search on Scholarships.com. Once the search is completed, students eligible for this scholarship award will find it in their search results.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!